Kronos 1Q profit falls 9 percent |
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Mon, 29 Jan 2007 23:17
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CHELMSFORD, Mass. (AFX) - Workforce management software maker Kronos Inc. said Monday its first quarter profit fell nearly 9 percent due to charges for compensation and acquisitions.Quarterly profit fell to $5.7 million, or 18 cents per share, from $6.2 million, or 19 cents per share in the prior year period.This quarter's results included a stock-based compensation charge of 10 cents per share and an amortization cost of 8 cents per share. Excluding the charges, the company's profit was 36 cents per share.On that basis, analysts polled by Thomson Financial predicted first quarter earnings of 33 cents per share.Revenue rose 16 percent to $148.7 million from $127.9 million during last year's first quarter, mainly on the strength of its product, maintenance and subscription revenues.Kronos shares rose 98 cents to $34.98 in electronic after hours trading. During regular hours on the Nasdaq Stock Market, the stock fell 30 cents to $34.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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